FXstreet.com (Barcelona) - The Dollar's decline against the Yen from intra-day high at 92.65 reached in the early American session has found support at 91.80 in the last moments. The USD/JPY has bounced back to trade above 92.00 level. Currently the pair is trading around 91.95/92.05, 0.75% below today's opening price action at 92.60.
According to the FastBrokers research team, the USD/JPY remains calm despite volatility around the FX market: The USD/JPY is moving sideways today despite volatility around the FX market in response to China's solid Trade Balance data... Technically speaking, the USD/JPY's uptrend is still intact and the currency pair is holding strong above previous January lows while setting higher lows. Meanwhile, the USD/JPY faces topside technical barriers in the form of our multiple downtrend lines along with 1/07 highs. Our 3rd tier downtrend line runs through August '09 levels.